Vise Technologies Inc. Makes New $307,000 Investment in State Street Co. (NYSE:STT)

Vise Technologies Inc. purchased a new position in shares of State Street Co. (NYSE:STT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,132 shares of the asset manager's stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STT. Janney Montgomery Scott LLC raised its stake in shares of State Street by 11.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock worth $7,289,000 after purchasing an additional 7,446 shares in the last quarter. Mutual Advisors LLC purchased a new stake in shares of State Street during the 4th quarter worth about $207,000. Brighton Jones LLC purchased a new stake in shares of State Street during the 4th quarter worth about $296,000. Flagship Harbor Advisors LLC purchased a new stake in shares of State Street during the 4th quarter worth about $272,000. Finally, Blue Trust Inc. increased its position in State Street by 10.0% during the fourth quarter. Blue Trust Inc. now owns 4,898 shares of the asset manager's stock worth $481,000 after buying an additional 446 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the sale, the chief accounting officer now directly owns 7,354 shares of the company's stock, valued at $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

STT has been the topic of several analyst reports. The Goldman Sachs Group set a $98.00 target price on shares of State Street and gave the stock a "buy" rating in a research report on Thursday, April 17th. Morgan Stanley lowered their target price on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Wall Street Zen downgraded shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods lowered their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Finally, Cfra Research downgraded shares of State Street from a "moderate buy" rating to a "hold" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, State Street currently has an average rating of "Hold" and an average price target of $104.23.

State Street Stock Performance

Shares of NYSE:STT traded down $0.82 during midday trading on Friday, hitting $96.22. The company's stock had a trading volume of 2,683,856 shares, compared to its average volume of 2,141,495. The stock has a market capitalization of $27.44 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.11 and a beta of 1.42. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock's 50 day simple moving average is $88.78 and its 200 day simple moving average is $93.98. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period in the prior year, the company earned $1.69 EPS. As a group, research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's dividend payout ratio (DPR) is presently 34.12%.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.